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Dec 26, 2012 6:00pm EST
could trigger another recession. others say the deadline is not as firm. congress could pass a temporary measure early that would roll back any changes. political analysts warn some consequences may be immediate. >> maybe a tremendous response and that would alarm everybody. >> stock prices dropped friday after a republican-led plan collapsed. nearly half of americans are doubtful the two sides can settle their differences. >> when the uncertain. tax rates will go up on 30 million households at least. that is something the politicians are going to respond to. >> house republican leaders called on the senate to pass to bills they said would avoid the fiscal cliff. republicans said the lines of communication are still open but the house will not act until the democratically controlled senate does. >> at the maryland due in baltimore, the african lions were not in their native habitat because it was snowing. the weather was so bad that these do closed -- the zoo closed for the day. the snow did not bother the residents of this lion park pret. >> they are tougher than the ones in maryland. w
Dec 26, 2012 9:00am EST
, another law passed by congress could change it. >> good to see you, john. thanks for the update. >> mastercard spending pulse saying it's the lowest level of 2008. high end is one of the areas getting hit hard. tom is managing director at the tellsee advisory group. good to have you with us. explain what the geography is. already sales in the mid-atlantic and northeast were weak. and then luxury is strongest in the new york area. some estimates say that's about 20% of that category sales in the new york area. what do you account for the weakness, particularly in new york? is it cliff fears at this point? >> melissa, i definitely do think that the cliff fears are impacting the consumer. i think we found the luxury consumer historically it's highly correlated to personal wealth in terms of the stock market, in terms of value of your home. clearly i think people are wor worried about higher taxes across the board. >> do you think it's higher taxes or prospect of lower bonuses? >> i think both. eccentric, bodes to spending here in the northeast. as long as the economy holds up in te
Dec 26, 2012 3:00pm PST
have another of our conversations with retiring members of congress. paul solman sat down with the always outspoken massachusetts democrat barney frank. >> the notion that people would not go along with an important public policy because i hurt their feelings, i don't think that's true. >> ifill: that's all ahead on tonight's "newshour." >> major funding for the pbs newshour has been provided by: >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> ifill: a major winter storm surged into the midwest and northeast, fouling flight schedules and ruining road conditions on this day after christmas. the huge weather system left a trail of destruction in the gulf coast region and at least six people dead. >> oh, wow, oh jesus, look at that tornado. >> ifill: the calm of christmas night was shattered by tornadoes dropping from the sky across much of the deep south. this one hit near downtown mobile, al
Dec 26, 2012 12:00pm EST
to keep another open. >> is it possible if congress does not respond adequately that they have to resort to their stock? >> that question is well put to the next panel in terms of how they would make the dollars that up. i know the mta has announced they will need to go out and have one out for additional debt just to cash flow the recovery until we can reimburse them. there is the risk of degradation to the public if they can't for example restore their stocks of spare equipment to keep the system up and running. >> some of our colleagues seem to think any attempt to rebuild transit systems with an eye towards mitigation and making them stronger for the future is a waste of money. what is your perspective? >> one thing that became clear in the after action look at this which gave rise to the president's request is we know now and indeed the operators on the ground have known for some time the we have the most critical components to keep the system is up and running in some of the most vulnerable areas. i think what those folks are saying when they say we shouldn't make mitigation invest
Dec 26, 2012 7:00am PST
and next thing you know we have the speaker of the house who has to basically tell members of congress, you go home. i cannot get my party to go along with this. and there's another thing that i think that gals a lot of folks and say, for example, on my committee, most of my people took a 5% to 10% pay cut two years ago and their pay is still cut. and all these people said, fine, cummings. take a pay cut but the riches got to pay a penny more and when republicans rejected plan "b" basically say ththey said we wot the rich pay a dime more. that's something wrong with the picture. >> thank you so much for your time today. >> thank you. >> bring back our journalists that are with us. david and meredith. david, what is your thought of what the congress said there? >> he makes a good point there. the pressure of the left. obama won a re-election and he learned that when he tried to negotiate in good faith with boehner and sort of move toward the middle and give concessions, criticized pretty sharply before maybe going too quickly to do that. i think he'll stand up longer this time. i don't think
Dec 26, 2012 4:00am EST
that died in that massacre. at church services, congress gants were told that good over comes evil. >>> five people were killed when one vehicle went airborne, right over the median and flew into another car. the driver of the airborne vehicle and four members of the same family died. first responders said it was the worst crash they have ever seen. >>> overseas now. and new evidence that the global recession is not over. thousands of people in rome turned out for the annual christmas day meal given away by the church. the dinner was held in an ancient basilica. when the tradition started back in the '80s, it mainly served the homeless. yesterday, those who waited in line were the working poor, too poverty-stricken to afford a proper christmas dinner. >>> americans will soon be unable to adopt children from russia. the chamber of the parliament there is expected to approve a measure that outlaws the practice. there's 740,000 children without parental custody in russia. more than 60,000 russian children have been adopted in the u.s. in the last 20 years. >>> encouraging news from south africa
Dec 26, 2012 8:00am PST
. congress could do all sorts of things and putting off the tax rates going up for another year or put it off for three months or can't deal with it in a lame duck or extend the deadline. they could easily do that but they haven't done that so far and if they can't actually resolve the issues, the sort of last resort outcome might be, let's just delay the whole thing for a few months. >> author of "rebounders," rick newman, thank you. >> thank you. >> as always. >>> the weather outside was certainly frightful for much of the country. storms all the way from oklahoma to pennsylvania. blizzard, snow, sleet, rain and tornadoes, too. what the wicked weather has already done and what lies ahead. >>> plus, actor ben affleck makes a big decision about a possible run for the u.s. senate in massachusetts, at least a big decision for now. >>> amber and marcy and paul started north carolina-based footsteps clothing with a booming christmas theme pa yeah malign. not wanting to be a seasonal business they added other holidays and eventually expanded to products that celebrate family life. irping ]hon [ bu
Dec 26, 2012 6:00am EST
by december 31 or you'll have to wait another year. homeowners must submit an application to maintain their eligibility for credit which limits the amount of assessment increase. >> the fiscal cliff could start impacting the food supply. dairy prices could double if congress does not renew the farm bill. $8it would got to 30 habout for milk sometime after january 1. >> it could force individuals to find substitutes for milk. >> we should see prices increase immediately if the farm bill is not renewed. that brings us to our water cooler question of the day. would you continue to buy milk no matter how high the price goes, or would you consider alternative products like soy milk? you can share your response on, on our facebook page, or send us an e-mail to >> if it goes to $8 a gallon, parents will tell everyone to drink that milk. >> the war on child obesity. >> these twisters are dangerous. >> we will look back on the career of a man who was called the king of character actors, charles durning. >> a wintry mix returns and some accumulation is possibl
Dec 26, 2012 5:00pm EST
to determine what started the fire. another fire in baltimore county before 13:30 a.m. a chimney fire had spread to the attic. no injuries were reported. president obama is heading back to washington thursday to negotiate with congress, a way to avert this booklet but only the senate will be back in session. >> house members have not been called back to work. >> president obama is cutting his holiday vacation sure to come back and work on a deal. any deal may be a short-term fix. president obama will be leaving forwarmth of yhawaii washington. there is no specific deal on the table. democrats blame republicans for not agreeing to end tax cuts for the wealthiest americans. >> we're not going to let the rich pay one dime more. there is something awfully wrong with that picture. the american public is seeing that. >> republicans will not agree. they see there may be room for compromise. >> i know i am not in the majority and the red states annett -- in the senate. we have to sit down and hammer something out. >> if no deal is reached, americans will see their income taxes go up. 2 million pe
FOX News
Dec 26, 2012 8:00am PST
we'll go over the fiscal cliff and the inaction of congress has the potential of plunging the united states into another recession. that said, they can't afford to becoming a reality. >> so far they have been very fortunate that the markets have not reacted with panic. you have not seen any plunge on wall street and the like but once you go over the cliff, especially if it is not just a matter of a day or two to allow for a house vote, but if it is really the case that politicians here in washington are so dysfunctional, kelly, they can not get the people's business done, i think then you will see a market reaction that, as you describe it, could plunge the country back into recession and it is not just the united states. remember, we're the world leader in terms of so much when it comes to the economy. it could cause worldwide implications. europe already is on the verge of trouble. to have the united states go off the edge would be catastrophic, for the world, for the global economy. kelly: juan, i was talking to a very good friend of mind who lives here in the united states. he is
Dec 26, 2012 5:00am PST
is okay about what happens, there is an online push to get her on the show and have another chance. >> it's obviously swimming. the g was already revealed. >> but they have strict rules. so if you don't say it right, then... >> wheel of fortune isn't the library of congress. i mean, it's -- you know, i -- honestly. pat sajak must have pulled hear side and said we'll make it up to you. poor thing. >>> 12 minutes before 6:00. coming up a surprise from fido. what the first dog did that gave the crowds a laugh. >> plus he made history in the movie biz and has only made one film. meet the man behind itier's blockbuster hit, rise of the guardians. that's coming up next. ,,,,,, well, well, well. growing up, we didn't have u-verse. we couldn't record four shows at the same time. in my day, you were lucky if you could record two shows. and if mom was recording her dumb show and dad was recording his dumb show then, by george, that's all we watched. and we liked it! today's kids got it so good. [ male announcer ] get u-verse tv with a total home dvr included free for life. only $29 a month for six
Dec 26, 2012 12:00pm PST
in the d.a.'s office in massachusetts. the clock yuz ticking. kerry was 29 when he first run for congress. but at 40, he hadn't found a place to climb to the top in politics. his boss surprised everyone and ran for re-election instead. then he had to step aside when another up and comer named barney frank got all the support. in 1982 race for lieutenant governor of massachusetts. the job wasn't much, but at least it was something. but the odds were long. there were a lot of ambitious democrats in massachusetts. and they all had the same idea. kerry had trouble qualifying for the ballot. he was an afterthought at the state convention. if he lost the primary, he'd probably be done for good. somehow he pulled out that race with less than 30% of the vote in the primary. all that got him was the lieutenant governors office which has snuffed out a few promising careers before. but there was an unexpected senate opening. without that twist, he might be in
Dec 26, 2012 2:00pm EST
in the cliff. >> you guys sound like congress. keep on arguing behind the scenes. enjoy yourselves. thank you so much, michael. peter, you're sticking around. >>> meantime, the fiscal cliff may be a big deal but there is another threat out there which might be in the short term more risky. the container cliff. businesses up and down the eastern seaboard are bracing for a massive port showdown as unions threaten to strike and possibly shut down most imports and exports out of this country. let's add in cnbc contributor jimmy peeb. we focus so much on the fiscal cliff. if we shut down 14 or 15 of the biggest ports in america, that could do much more harm than any fiscal escarpment. >> it could do much more harm more quickly. the fiscal cliff on january 1st, the economy's not going to collapse. but the shutdown of these ports, you had $200 billion or $300 billion a year coming into this country through these ports. what i think interesting, the last time we saw an east coast longshoreman strike, port shutdown, was in 1977. a decade which i remember where nothing went right. nothing worked. right
FOX Business
Dec 26, 2012 9:20am EST
at the end of this year. if congress renews them, it is going to cost taxpayers 12 billion dollars. that's next year say alone. if you want an idea of what another year of wind subsidies looks like, just go to california. they bet big on wind and well let's let our next guest tell you how it went down, from front line strategies. the investments in wind power in california, how did it turn out? >> so far it hasn't proven to be the panacea that i think governor brown and the california legislature had predicted. last year as a matter of fact i think we created about 3,000 jobs in green energy, that's total. that's all renewables. and at the pace that jerry brown promised, 500,000 new jobs over the next 10 years, it will take him 167 years to actually make good on that promise. david: by the way, the "wall street journal" looked at the government's figures, the federal government's figures about how many jobs were supposedly created by wind power, by a 4 billion dollars wind power project involved over 30 wind power farms, and the government claimed there were 7,000 jobs. the journal sent
Dec 26, 2012 7:00am EST
we are in. he cannot even tolerate position said they have going on with our congress. if the people out here for us to be taking care of, if they have enough money to take over to another country the way they demonstrate, that is what we are in this position that we are in. i think we should get in contact with george bush and see if he can get us out of this. host: here is a piece in "the washington post." if there is a photo of the first couple greeting military personnel. this is the president remained largely out of sight golfing and spending time with his family. he left washington late on friday. a little progress has been made on the cliff talks, but at least the talking is continuing. we have a call from mike out in florida. caller: good morning. i am a bit pessimistic. i believe that on c-span they had an economist on here explaining how americans do not understand the difference between millions, billions, in trillions. with the trillions of dollars in debt, he put it into the context of time. 1 million seconds will take 11 days to pass. 1 billion seconds will pass in 32 y
Search Results 0 to 14 of about 15